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IndiaTV Business: Google News Feed: Digest for May 23, 2023

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Why RBI is withdrawing Rs 2,000 notes from circulation?

Friday 19 May 2023 04:18 PM UTC+00
Rs 2,000 notes to be withdrawn: The Reserve Bank of India on Friday announced that it will withdraw the circulation of Rs 2,000 currency notes but said that the notes will continue to remain a legal tender. However, there is no need to panic as the RBI has said that citizens can deposit Rs 2,000 notes in banks or exchange them with other currency denominations by September 30, 2023.
The future of the grounded Jet Airways is still hanging in the air as the validity of the airline's air operator's certificate expires on Friday (April 19). The Air Operator's Certificate (AOC) of the airline was revalidated on May 20 last year for a one-year period and the validity ended on Friday. The flights of the airlines have not flown since April 18, 2019.

Zomato elevates Rakesh Ranjan as food delivery CEO

Saturday 20 May 2023 07:40 AM UTC+00
Online food livery platform Zomato has rejigged the senior leadership team after reporting its better-than-expected quarterly results (Q4 FY23). Zomato informed the Bombay Stock Exchange in a filing that it has appointed Rakesh Ranjan as CEO of its food ordering and delivery business and Rinshul Chandra as COO, food ordering and delivery business.
2,000 notes withdrawal: A day after the withdrawal of Rs 2,000 currency notes from circulation, former NITI Aayog Vice Chairman Arvind Panagariya said the RBI's decision will not have any 'perceptible effect' on the economy as any such notes returned will be replaced by either equivalent cash in lower denomination notes or a deposit. He further said the likely motive behind this move is to make the movement of illicit money more difficult.
EPFO Data: According to payroll data released on Saturday, the retirement fund body EPFO added 13.40 lakh members on a net basis in March, taking the total addition to 1.39 crore in 2022-23, 
Elon Musk apparently told a Twitter investor during a 4 a.m. call that he would pay the company's office rent 'over my dead body'. According to a new lawsuit filed by six former Twitter employees against Twitter, Pablo Mendoza, a venture capitalist who invested in Twitter 2.0, had a chat with Musk in the wee hours, reports Business Insider.
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI.
The State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof were required to exchange Rs 2,000 notes, which the RBI pulled out from flow with immediate effect.

Deloitte to launch offices in THESE cities across India

Sunday 21 May 2023 08:49 AM UTC+00
Deloitte India on Sunday announced that it will be opening three new offices in Pune, Chennai and Kolkata. It further stated that the country's skilled workforce is being sought after by global organisations for high-end work.
Rs 2,000 note ban: Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation.

Why RBI is withdrawing Rs 2,000 notes from circulation?

Friday 19 May 2023 04:18 PM UTC+00
Rs 2,000 notes to be withdrawn: The Reserve Bank of India on Friday announced that it will withdraw the circulation of Rs 2,000 currency notes but said that the notes will continue to remain a legal tender. However, there is no need to panic as the RBI has said that citizens can deposit Rs 2,000 notes in banks or exchange them with other currency denominations by September 30, 2023.
The future of the grounded Jet Airways is still hanging in the air as the validity of the airline's air operator's certificate expires on Friday (April 19). The Air Operator's Certificate (AOC) of the airline was revalidated on May 20 last year for a one-year period and the validity ended on Friday. The flights of the airlines have not flown since April 18, 2019.

Zomato elevates Rakesh Ranjan as food delivery CEO

Saturday 20 May 2023 07:40 AM UTC+00
Online food livery platform Zomato has rejigged the senior leadership team after reporting its better-than-expected quarterly results (Q4 FY23). Zomato informed the Bombay Stock Exchange in a filing that it has appointed Rakesh Ranjan as CEO of its food ordering and delivery business and Rinshul Chandra as COO, food ordering and delivery business.
2,000 notes withdrawal: A day after the withdrawal of Rs 2,000 currency notes from circulation, former NITI Aayog Vice Chairman Arvind Panagariya said the RBI's decision will not have any 'perceptible effect' on the economy as any such notes returned will be replaced by either equivalent cash in lower denomination notes or a deposit. He further said the likely motive behind this move is to make the movement of illicit money more difficult.
EPFO Data: According to payroll data released on Saturday, the retirement fund body EPFO added 13.40 lakh members on a net basis in March, taking the total addition to 1.39 crore in 2022-23, 
Elon Musk apparently told a Twitter investor during a 4 a.m. call that he would pay the company's office rent 'over my dead body'. According to a new lawsuit filed by six former Twitter employees against Twitter, Pablo Mendoza, a venture capitalist who invested in Twitter 2.0, had a chat with Musk in the wee hours, reports Business Insider.
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI.
The State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof were required to exchange Rs 2,000 notes, which the RBI pulled out from flow with immediate effect.

Deloitte to launch offices in THESE cities across India

Sunday 21 May 2023 08:49 AM UTC+00
Deloitte India on Sunday announced that it will be opening three new offices in Pune, Chennai and Kolkata. It further stated that the country's skilled workforce is being sought after by global organisations for high-end work.
Rs 2,000 note ban: Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation.

Zomato elevates Rakesh Ranjan as food delivery CEO

Saturday 20 May 2023 07:40 AM UTC+00
Online food livery platform Zomato has rejigged the senior leadership team after reporting its better-than-expected quarterly results (Q4 FY23). Zomato informed the Bombay Stock Exchange in a filing that it has appointed Rakesh Ranjan as CEO of its food ordering and delivery business and Rinshul Chandra as COO, food ordering and delivery business.
2,000 notes withdrawal: A day after the withdrawal of Rs 2,000 currency notes from circulation, former NITI Aayog Vice Chairman Arvind Panagariya said the RBI's decision will not have any 'perceptible effect' on the economy as any such notes returned will be replaced by either equivalent cash in lower denomination notes or a deposit. He further said the likely motive behind this move is to make the movement of illicit money more difficult.
EPFO Data: According to payroll data released on Saturday, the retirement fund body EPFO added 13.40 lakh members on a net basis in March, taking the total addition to 1.39 crore in 2022-23, 
Elon Musk apparently told a Twitter investor during a 4 a.m. call that he would pay the company's office rent 'over my dead body'. According to a new lawsuit filed by six former Twitter employees against Twitter, Pablo Mendoza, a venture capitalist who invested in Twitter 2.0, had a chat with Musk in the wee hours, reports Business Insider.
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI.
The State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof were required to exchange Rs 2,000 notes, which the RBI pulled out from flow with immediate effect.

Deloitte to launch offices in THESE cities across India

Sunday 21 May 2023 08:49 AM UTC+00
Deloitte India on Sunday announced that it will be opening three new offices in Pune, Chennai and Kolkata. It further stated that the country's skilled workforce is being sought after by global organisations for high-end work.
Rs 2,000 note ban: Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation.
New Delhi: A consortium led by Tata Consultancy Services Limited has received an advance purchase order valued at over Rs 15,000 crore from BSNL for the deployment of a 4G network across India.
Equity benchmark indices climbed in early trade on Monday amid a rally in Asian markets along with buying in index heavyweights IT counters and Reliance Industries. The 30-share BSE Sensex climbed 146.98 points to 61,876.66 in early trade. The NSE Nifty went up by 55.3 points to 18,258.70.
EPFO Data: According to payroll data released on Saturday, the retirement fund body EPFO added 13.40 lakh members on a net basis in March, taking the total addition to 1.39 crore in 2022-23, 
Elon Musk apparently told a Twitter investor during a 4 a.m. call that he would pay the company's office rent 'over my dead body'. According to a new lawsuit filed by six former Twitter employees against Twitter, Pablo Mendoza, a venture capitalist who invested in Twitter 2.0, had a chat with Musk in the wee hours, reports Business Insider.
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI.
The State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof were required to exchange Rs 2,000 notes, which the RBI pulled out from flow with immediate effect.

Deloitte to launch offices in THESE cities across India

Sunday 21 May 2023 08:49 AM UTC+00
Deloitte India on Sunday announced that it will be opening three new offices in Pune, Chennai and Kolkata. It further stated that the country's skilled workforce is being sought after by global organisations for high-end work.
Rs 2,000 note ban: Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation.
New Delhi: A consortium led by Tata Consultancy Services Limited has received an advance purchase order valued at over Rs 15,000 crore from BSNL for the deployment of a 4G network across India.
Equity benchmark indices climbed in early trade on Monday amid a rally in Asian markets along with buying in index heavyweights IT counters and Reliance Industries. The 30-share BSE Sensex climbed 146.98 points to 61,876.66 in early trade. The NSE Nifty went up by 55.3 points to 18,258.70.
Shaktikanta Das, governor of the Reserve Bank of India (RBI), said on Monday that no one should rush to return or exchange their 2,000 rupee notes, a day before people start approaching banks to give up the high-value notes. He likewise affirmed that even after September 30, the notes would continue to be legal.
India's flagship overseas oil firm ONGC Videsh has got a new partner in Oil India Ltd to replace a reluctant IndianOil (IOC) for the potential acquisition of a 50 percent stake in Tullow Oil Plc's USD 3.4 billion oilfield project in Kenya, according to people with knowledge of the matter. But the OVL-OIL duo now faces competition from super-aggressive Chinese energy giant Sinopec which has entered the fray taking advantage of the delay on the Indian part in finalising the deal.
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI.
The State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof were required to exchange Rs 2,000 notes, which the RBI pulled out from flow with immediate effect.

Deloitte to launch offices in THESE cities across India

Sunday 21 May 2023 08:49 AM UTC+00
Deloitte India on Sunday announced that it will be opening three new offices in Pune, Chennai and Kolkata. It further stated that the country's skilled workforce is being sought after by global organisations for high-end work.
Rs 2,000 note ban: Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation.
New Delhi: A consortium led by Tata Consultancy Services Limited has received an advance purchase order valued at over Rs 15,000 crore from BSNL for the deployment of a 4G network across India.
Equity benchmark indices climbed in early trade on Monday amid a rally in Asian markets along with buying in index heavyweights IT counters and Reliance Industries. The 30-share BSE Sensex climbed 146.98 points to 61,876.66 in early trade. The NSE Nifty went up by 55.3 points to 18,258.70.
Shaktikanta Das, governor of the Reserve Bank of India (RBI), said on Monday that no one should rush to return or exchange their 2,000 rupee notes, a day before people start approaching banks to give up the high-value notes. He likewise affirmed that even after September 30, the notes would continue to be legal.
India's flagship overseas oil firm ONGC Videsh has got a new partner in Oil India Ltd to replace a reluctant IndianOil (IOC) for the potential acquisition of a 50 percent stake in Tullow Oil Plc's USD 3.4 billion oilfield project in Kenya, according to people with knowledge of the matter. But the OVL-OIL duo now faces competition from super-aggressive Chinese energy giant Sinopec which has entered the fray taking advantage of the delay on the Indian part in finalising the deal.
Will Rs 1,000 notes make a comeback after the Reserve Bank of India (RBI) announced the discontinuation of Rs 2,000 currency notes from the market. Well speaking on the matter, RBI Governor Shaktikanta Das has said that the RBI does not have any plans to re-introduce Rs 1,000 notes after its order to withdraw Rs 2,000 denomination from circulation.
The Irish Data Protection Commission on Monday fined Meta (formerly Facebook) a record $1.3 billion fine over violating data transfer rules in the European Union (EU).
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI.
The State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof were required to exchange Rs 2,000 notes, which the RBI pulled out from flow with immediate effect.

Deloitte to launch offices in THESE cities across India

Sunday 21 May 2023 08:49 AM UTC+00
Deloitte India on Sunday announced that it will be opening three new offices in Pune, Chennai and Kolkata. It further stated that the country's skilled workforce is being sought after by global organisations for high-end work.
Rs 2,000 note ban: Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation.
New Delhi: A consortium led by Tata Consultancy Services Limited has received an advance purchase order valued at over Rs 15,000 crore from BSNL for the deployment of a 4G network across India.
Equity benchmark indices climbed in early trade on Monday amid a rally in Asian markets along with buying in index heavyweights IT counters and Reliance Industries. The 30-share BSE Sensex climbed 146.98 points to 61,876.66 in early trade. The NSE Nifty went up by 55.3 points to 18,258.70.
Shaktikanta Das, governor of the Reserve Bank of India (RBI), said on Monday that no one should rush to return or exchange their 2,000 rupee notes, a day before people start approaching banks to give up the high-value notes. He likewise affirmed that even after September 30, the notes would continue to be legal.
India's flagship overseas oil firm ONGC Videsh has got a new partner in Oil India Ltd to replace a reluctant IndianOil (IOC) for the potential acquisition of a 50 percent stake in Tullow Oil Plc's USD 3.4 billion oilfield project in Kenya, according to people with knowledge of the matter. But the OVL-OIL duo now faces competition from super-aggressive Chinese energy giant Sinopec which has entered the fray taking advantage of the delay on the Indian part in finalising the deal.
Will Rs 1,000 notes make a comeback after the Reserve Bank of India (RBI) announced the discontinuation of Rs 2,000 currency notes from the market. Well speaking on the matter, RBI Governor Shaktikanta Das has said that the RBI does not have any plans to re-introduce Rs 1,000 notes after its order to withdraw Rs 2,000 denomination from circulation.
The Irish Data Protection Commission on Monday fined Meta (formerly Facebook) a record $1.3 billion fine over violating data transfer rules in the European Union (EU).
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI.
The State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof were required to exchange Rs 2,000 notes, which the RBI pulled out from flow with immediate effect.

Deloitte to launch offices in THESE cities across India

Sunday 21 May 2023 08:49 AM UTC+00
Deloitte India on Sunday announced that it will be opening three new offices in Pune, Chennai and Kolkata. It further stated that the country's skilled workforce is being sought after by global organisations for high-end work.
Rs 2,000 note ban: Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation.
New Delhi: A consortium led by Tata Consultancy Services Limited has received an advance purchase order valued at over Rs 15,000 crore from BSNL for the deployment of a 4G network across India.
Equity benchmark indices climbed in early trade on Monday amid a rally in Asian markets along with buying in index heavyweights IT counters and Reliance Industries. The 30-share BSE Sensex climbed 146.98 points to 61,876.66 in early trade. The NSE Nifty went up by 55.3 points to 18,258.70.
Shaktikanta Das, governor of the Reserve Bank of India (RBI), said on Monday that no one should rush to return or exchange their 2,000 rupee notes, a day before people start approaching banks to give up the high-value notes. He likewise affirmed that even after September 30, the notes would continue to be legal.
India's flagship overseas oil firm ONGC Videsh has got a new partner in Oil India Ltd to replace a reluctant IndianOil (IOC) for the potential acquisition of a 50 percent stake in Tullow Oil Plc's USD 3.4 billion oilfield project in Kenya, according to people with knowledge of the matter. But the OVL-OIL duo now faces competition from super-aggressive Chinese energy giant Sinopec which has entered the fray taking advantage of the delay on the Indian part in finalising the deal.
Will Rs 1,000 notes make a comeback after the Reserve Bank of India (RBI) announced the discontinuation of Rs 2,000 currency notes from the market. Well speaking on the matter, RBI Governor Shaktikanta Das has said that the RBI does not have any plans to re-introduce Rs 1,000 notes after its order to withdraw Rs 2,000 denomination from circulation.
The Irish Data Protection Commission on Monday fined Meta (formerly Facebook) a record $1.3 billion fine over violating data transfer rules in the European Union (EU).
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI.
The State Bank of India (SBI) on Saturday informed all its branches that no form and no identity proof were required to exchange Rs 2,000 notes, which the RBI pulled out from flow with immediate effect.

Deloitte to launch offices in THESE cities across India

Sunday 21 May 2023 08:49 AM UTC+00
Deloitte India on Sunday announced that it will be opening three new offices in Pune, Chennai and Kolkata. It further stated that the country's skilled workforce is being sought after by global organisations for high-end work.
Rs 2,000 note ban: Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation.
New Delhi: A consortium led by Tata Consultancy Services Limited has received an advance purchase order valued at over Rs 15,000 crore from BSNL for the deployment of a 4G network across India.
Equity benchmark indices climbed in early trade on Monday amid a rally in Asian markets along with buying in index heavyweights IT counters and Reliance Industries. The 30-share BSE Sensex climbed 146.98 points to 61,876.66 in early trade. The NSE Nifty went up by 55.3 points to 18,258.70.
Shaktikanta Das, governor of the Reserve Bank of India (RBI), said on Monday that no one should rush to return or exchange their 2,000 rupee notes, a day before people start approaching banks to give up the high-value notes. He likewise affirmed that even after September 30, the notes would continue to be legal.
India's flagship overseas oil firm ONGC Videsh has got a new partner in Oil India Ltd to replace a reluctant IndianOil (IOC) for the potential acquisition of a 50 percent stake in Tullow Oil Plc's USD 3.4 billion oilfield project in Kenya, according to people with knowledge of the matter. But the OVL-OIL duo now faces competition from super-aggressive Chinese energy giant Sinopec which has entered the fray taking advantage of the delay on the Indian part in finalising the deal.
Will Rs 1,000 notes make a comeback after the Reserve Bank of India (RBI) announced the discontinuation of Rs 2,000 currency notes from the market. Well speaking on the matter, RBI Governor Shaktikanta Das has said that the RBI does not have any plans to re-introduce Rs 1,000 notes after its order to withdraw Rs 2,000 denomination from circulation.
The Irish Data Protection Commission on Monday fined Meta (formerly Facebook) a record $1.3 billion fine over violating data transfer rules in the European Union (EU).
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